Cryptocurrencies experience unprecedented single-day decline
In the last 24 hours, cryptocurrency markets have witnessed liquidations exceeding $2.24 billion. Read Full Article at RT.com.
TroibNews 
In the last 24 hours, global cryptocurrency markets experienced a significant downturn, with over $2.24 billion liquidated, as reported by Coinglass, a service that tracks major crypto exchange transactions.
Liquidation happens when a trader's position is forcibly closed due to insufficient funds to maintain it. This may occur voluntarily or may be automatically triggered by the broker when the trader's losses surpass the margin they have provided. Such events typically arise during a margin call, which happens when a trader fails to post the necessary collateral to keep their position open.
According to the Cointelegraph news outlet, more than 730,000 traders encountered liquidations, with nearly 37% of these occurring on the Binance exchange, which has a large user base. Other exchanges affected included OKX, Bybit, Gate.IO, and HTX.
Several crypto-focused media outlets have linked these market shifts to new tariffs introduced by U.S. President Donald Trump on imports from Canada, Mexico, and China. The situation was exacerbated by Trump's threats to "definitely" expand the tariffs to the EU and possibly the UK, which triggered a sell-off in risk assets, impacting digital currencies.
In conjunction with these liquidations, numerous leading cryptocurrencies saw significant declines, with Ether experiencing a notable drop of around 20%, falling to $2,520. As of 11:24 GMT, it had recovered slightly to $2,611. Bitcoin also faced a drop, falling 6.5% to a low of $92,500 before recovering to $95,484. Additionally, Cardano and Ripple saw decreases of over 19% and 16%, respectively.
The total cryptocurrency market capitalization fell nearly 9%, reaching $3.24 trillion, according to CoinGecko, which monitors 17,047 cryptocurrencies. The overall trading volume for digital currencies in the past 24 hours was approximately $401 billion.
Max Fischer for TROIB News
Liquidation happens when a trader's position is forcibly closed due to insufficient funds to maintain it. This may occur voluntarily or may be automatically triggered by the broker when the trader's losses surpass the margin they have provided. Such events typically arise during a margin call, which happens when a trader fails to post the necessary collateral to keep their position open.
According to the Cointelegraph news outlet, more than 730,000 traders encountered liquidations, with nearly 37% of these occurring on the Binance exchange, which has a large user base. Other exchanges affected included OKX, Bybit, Gate.IO, and HTX.
Several crypto-focused media outlets have linked these market shifts to new tariffs introduced by U.S. President Donald Trump on imports from Canada, Mexico, and China. The situation was exacerbated by Trump's threats to "definitely" expand the tariffs to the EU and possibly the UK, which triggered a sell-off in risk assets, impacting digital currencies.
In conjunction with these liquidations, numerous leading cryptocurrencies saw significant declines, with Ether experiencing a notable drop of around 20%, falling to $2,520. As of 11:24 GMT, it had recovered slightly to $2,611. Bitcoin also faced a drop, falling 6.5% to a low of $92,500 before recovering to $95,484. Additionally, Cardano and Ripple saw decreases of over 19% and 16%, respectively.
The total cryptocurrency market capitalization fell nearly 9%, reaching $3.24 trillion, according to CoinGecko, which monitors 17,047 cryptocurrencies. The overall trading volume for digital currencies in the past 24 hours was approximately $401 billion.
Max Fischer for TROIB News
